Nashik requires Rs 100 cr of currency now!

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Nashik : The disrupted ATM service in the city is likely to be restored within a week, informed sources. Considering shortage of currency, banks are preferring to keep cash at their branches instead of ATM centres. Banks require currency to the tune of Rs. 100 crore immediately to resolve the cash crunch and the currency chest has registered the demand with Reserve Bank of India, but as there is no supply of currency from the RBI, the cash crunch in the city continues.

Following shortage of currency not only in Nashik but also in the state, there is a question mark over the credibility of the RBI. Citizens have to face hardship for withdrawing money due to differences between banks and the RBI. There has been a reduction in currency supply since third week of March. Less currency than half of the demand is being received from the RBI, informed a bank official. Companies which are looking after management of ATM centres also admitted that there is less supply of currency.

The banking system had normalised by February end after the demonetisation. Rs. 18-20 lakhs of currency was being deposited every 2-3 days into every ATM, but it has now been reduced to Rs. 3-4 lakh. As there is no limitation on withdrawal of money, a few citizens get all the money and the ATM centres then go dry.

Consumers in large numbers are rushing to the banks to get money for various reasons, but they are not getting it. Banks in the city opened at their regular timing yesterday, but as many banks had no cash, transactions came to a standstill. Bank consumers are angry as they are not getting the amount of money they require.

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